Wealthquest Corp Invests $213,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Wealthquest Corp has invested $213,000 in Wheaton Precious Metals Corp., acquiring 2,746 shares of the company in the first quarter.
• Wheaton Precious Metals reported earnings of $0.55 EPS, surpassing analysts' expectations, with a revenue increase of 58.4% year-over-year.
• Brokerages have raised their target prices for Wheaton Precious Metals, with Raymond James setting a new target at $90.00 and BMO Capital Markets at $129.00, reflecting a positive outlook on the stock.

Wealthquest Corp acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,746 shares of the company's stock, valued at approximately $213,000.

Several other large investors also recently made changes to their positions in WPM. NBT Bank N A NY increased its position in shares of Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after acquiring an additional 234 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after acquiring an additional 579 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Wheaton Precious Metals during the first quarter worth $49,000. Princeton Global Asset Management LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter worth $52,000. Finally, Penserra Capital Management LLC increased its position in shares of Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WPM. Raymond James Financial increased their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Scotiabank increased their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Finally, BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $91.52 on Friday. The stock has a market cap of $41.55 billion, a P/E ratio of 67.30, a P/E/G ratio of 2.54 and a beta of 0.46. The company has a fifty day moving average price of $90.20 and a two-hundred day moving average price of $78.99. Wheaton Precious Metals Corp. has a one year low of $53.05 and a one year high of $96.83.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The company's revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 48.53%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

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